If you are on the other end of an owner finance deal, is it unethical or looked down on to refinance out of that after say a couple of years? 

Currently, after taking care of all expenses, it is providing about $1400 positive cashflow per month.

As to the Department of buildings, they work at their own pace and don't seem to care too much otherwise .

I hope to change that with the development (not purchase) of an 8 unit building about 35 minutes outside of Nashville.

I do photography as well, I've been offering people free shoots for years and can't get anyone to care enough to pick it up. lol hopefully you'll have better results.

While I'm here if anyone knows of an affordable punch out contractor that would be much appreciated also.

I live in Hawaii and have no problems with them - they took good care of my buildings.

If they have good standing with the previous owner, you can use your best judgement on whether to let them stay.Purchasing properties with inherited tenants requires careful handling.

In terms of the structure of the house, both policies should cover in case of an unfortunate event, right?

For working with other contractors for more complex jobs, if the subcontractors are going to find quotes for you, you may require several quotes and decide which one to go.Anyway, no one cares about your property and your income vs expense better than you, delegate is a good way to develop your business, but supervision keeps it under control.